Toluene Weekly Report 18 October 2019

Weekly Price Trend: 14-10-2019 to 18-10-2019

• The above given graph focuses on the Toluene price trend for current week. There has been no change in values in domestic market with no change in prices for this week.
• This week prices remained soft-to-stable throughout this week. By end of the week prices were assessed at the level of Rs.56/Kg for bulk quantity for Kandla and for Mumbai ports of India.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic market price was assessed at Rs.56/kg for bulk quantity increased by Rs.1/Kg for bulk quantity in compare to last week’s closing values.
• CFR India prices were evaluated at USD 695/MT, heavily reduced by USD 40/MT for this week.
• CFR China price of toluene were assessed at the level of USD 670/MT, reduced slightly for this week.
• Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 660/MT for this week, while CFR China prices were assessed at the level of USD 670/MT for this week.
• Indian markets are operating on reduced rate as country is festive mood. Next week there will be diwali celebrations across the nation with long extended vacations.
• Oil futures finished higher Thursday, as the U.S. and Turkey reached a cease-fire pact in Syria, temporarily easing Middle East tensions, and a tentative Brexit deal fueled appetite for assets perceived as risky.
• Oil prices had traded mostly lower shortly after the Energy Information Administration on Thursday reported that U.S. crude supplies climbed for a fifth week in a row, by 9.3 million barrels for the week ended Oct.
• “Inventories have built by a whopping 9.3 million barrels, led by the refinery utilization rate dropping to its lowest since hurricane Harvey in September 2017.
• A release of 1.3 million barrel has only rubbed salt into the wounds of the bulls, adding to today’s crude build.
• On Thursday, closing crude values have increased. WTI on NYME closed at $53.93/bbl. Prices have increased by 0.57/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.49/bbl in compare to last closing price and was assessed around $59.91/bbl.

$ 1 = Rs. 71.13

Import Custom Ex. Rate USD/ INR: 72.15                                            

Export Custom Ex. Rate USD/ INR: 70.45